UiPath, Inc. PATH
First established in Bucharest, Romania in 2005, UiPath was incorporated in Delaware in 2015 as a company principally focused on building and managing automations, starting with computer vision technology and user interface automations in our initial RPA offering, which remains the foundation of our platform today. Over the course of the past several years, we have followed a strategy of leveraging advances in AI to broaden our capabilities.
Building upon decades of leadership in automation, UiPath is pioneering the evolution from rule-based automation to intelligent agentic automation. The UiPath Platform™ uniquely combines controlled agency, developer flexibility, and seamless integration to help organizations scale agentic automation safely and confidently. Committed to security, governance, and interoperability, we support enterprises as they transition into a future where automation delivers on the full potential of AI to transform industries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.61B | $1.43B | $1.31B | $1.06B | $892.3M | $607.6M | $336.2M | — |
| Cost of revenue | $271.0M | $246.9M | $195.9M | $180.1M | $168.9M | $65.9M | $59.4M | — |
| Gross profit | $1.34B | $1.18B | $1.11B | $878.5M | $723.4M | $541.8M | $276.8M | — |
| R&D | $385.2M | $380.7M | $332.1M | $285.8M | $276.7M | $109.9M | $131.1M | — |
| SG&A | $214.3M | $226.1M | $231.6M | $239.5M | $250.0M | $162.0M | $179.6M | — |
| Total operating expenses | $1.28B | $1.35B | $1.28B | $1.23B | $1.22B | $652.1M | $794.0M | — |
| Operating income | $56.8M | -$162.6M | -$164.7M | -$348.3M | -$500.9M | -$110.3M | -$517.3M | — |
| Pre-tax income | $100.6M | -$78.1M | -$75.8M | -$317.6M | -$510.9M | -$94.7M | -$517.1M | — |
| Income tax | $181.7M | $4.4M | $14.1M | $10.8M | $14.7M | $2.3M | $2.8M | — |
| Net income | $282.3M | -$73.7M | -$89.9M | -$328.4M | -$525.6M | -$92.4M | -$519.9M | — |
| EPS, basic | 0.52 | -0.13 | -0.16 | -0.60 | -1.16 | -0.55 | -3.41 | — |
| EPS, diluted | 0.52 | -0.13 | -0.16 | -0.60 | -1.16 | -0.55 | -3.41 | — |
| Shares, diluted (wtd. avg.) | $544.9M | $559.9M | $563.9M | $548.0M | $454.6M | $168.3M | $152.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $871.2M | $879.2M | $1.06B | $1.40B | $1.77B | $371.2M | $234.1M | $172.1M |
| Short-term investments | $601.3M | $750.3M | $818.1M | $354.8M | $96.4M | $102.8M | — | — |
| Receivables | $488.3M | $451.1M | $436.3M | $374.2M | $252.0M | $172.3M | — | — |
| Total current assets | $2.24B | $2.34B | $2.58B | $2.34B | $2.28B | $734.4M | — | — |
| Property, plant and equipment | $46.0M | $32.7M | $24.0M | $29.0M | $17.2M | $14.8M | — | — |
| Goodwill | $125.3M | $87.3M | $89.0M | $88.0M | $53.6M | $28.1M | $25.3M | — |
| Other intangibles | $20.0M | $7.9M | $14.7M | $23.0M | $16.8M | $10.2M | — | — |
| Total assets | $3.18B | $2.87B | $2.95B | $2.74B | $2.57B | $866.5M | — | — |
| Accounts payable | $10.2M | $33.2M | $3.4M | $8.9M | $11.5M | $6.7M | — | — |
| Total current liabilities | $905.4M | $798.9M | $711.7M | $626.5M | $527.5M | $365.2M | — | — |
| Total liabilities | $1.10B | $1.02B | $938.6M | $815.0M | $650.5M | $448.2M | — | — |
| Retained earnings | -$1.71B | -$1.99B | -$1.91B | -$1.82B | -$1.50B | -$970.4M | — | — |
| Total equity | $2.08B | $1.85B | $2.02B | $1.92B | $1.92B | -$803.7M | -$799.5M | -$297.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $371.2M | $320.6M | $299.1M | -$10.0M | -$55.0M | $29.2M | -$359.4M | — |
| Depreciation and amortisation | $5.8M | $8.1M | $11.1M | $8.6M | $6.8M | $8.4M | $7.6M | — |
| Stock-based compensation | $290.7M | $358.2M | $372.0M | $369.8M | $515.6M | $86.2M | $137.9M | — |
| Capital expenditure | $19.0M | $14.9M | $7.3M | $23.8M | $8.9M | $2.0M | $15.7M | — |
| Investing cash flow | -$22.5M | -$45.5M | -$439.6M | -$289.1M | -$35.4M | -$126.0M | -$39.5M | — |
| Financing cash flow | -$372.4M | -$450.5M | -$196.9M | -$60.7M | $1.47B | $250.4M | $457.8M | — |
| Buybacks | $329.1M | $390.8M | $102.6M | $0 | $0 | $0 | $128.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001734722-26-000027.
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